prepare a balance sheet , income statement and retain earings statement please. Income statement and retained earnings statement.B2 Corporation's capital structure consists of 50,000 shares of common stock. At December 31,2017 an analysis of the accounts and discussions with company officials revealed the followinginformation:Sales revenueDiscontinued operations loss (net of tax)Selling expensesCashAccounts receivableCommon stockCost of goods soldAccumulated depreciation-machineryDividend revenueUnearned service revenueInterest payableLandPatentsRetained earnings, January 1, 2017Interest expenseAdministrative expensesDividends declaredAllowance for doubtful accountsSalary PayableNotes payable (maturity 7/1/20)MachineryInventoryAccounts payable$1,250,00063,000128,00060,00090,000200,000700,000180,0008,0004,4001,000370,000100,000270,00017,000170,00024,0005,000106,500200,000450,00040,00060,000The amount of income taxes applicable to income was $72,900, excluding the tax effect of thediscontinued operations loss which amounted to $27,000.

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Answered: statement and retain earings statement…

Business

Accounting

statement and retain earings statement please.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 18E

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The comparative statements of Wildhorse Company are presented here. [submitted previously and solution was incorrect]